Thailand50 - Opening A Thai Bank Account

Current Account

Thai banks required a foreigner to meet several requirements to open a checking account.

  1. A non-immigrant Visa
  2. A work permit
  3. Company papers.
  4. Certificate of residence

Savings Account

Opening a savings account is much easier. All you have to do is must present the bank with your passport and proof of address such as a electrical bill or cable bill or lease and then make a minimum deposit of 1000 baht. Once approved you will be issued an ATM card and withdrawal is free of charge at any branch of the bank within Thailand. The whole process usually takes less than 30 minutes

Thai bankers are generally quite helpful. Services are varied from bank to bank.
Banking hours have been liberalized so some banks are open seven days a week.
Hours are usually 9am-4:30pm, although some banks have extended hours till 7pm.

In additional to banks and ATM machines, Thailand has money exchanges to transfer foreign currency into Thai Baht. Shop around as these have different rates and try not to use those in hotels, as their rate is always much lower than the real rate of exchange.

Credit Cards

It is possible to get a credit card in Thailand, there are various ways and each bank will have different rules and regulations. I bank with Standard Chartered in Thailand and because I have a work permit with over 3 years worth of pay slips I have an unsecured Gold Card with a credit line of 250,000 baht, one of my colleagues has a similar one with HSBC.

Unsecured cards are difficult to obtain without an established work history.

Other banks will offer you options such as placing say 200,000 baht on deposit with them first or buying bonds that are held.

I would suggest that you visit your local branch first, if they are not helpful then try going to the main office that will have more experience in dealing with foreigners.

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